Colgate-Palmolive (CL) Position Increased by WFG Advisors LP
WFG Advisors LP boosted its stake in Colgate-Palmolive (NYSE:CL) by 4.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,816 shares of the company’s stock after acquiring an additional 553 shares during the period. WFG Advisors LP’s holdings in Colgate-Palmolive were worth $876,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Colgate-Palmolive by 8.4% in the second quarter. Pacer Advisors Inc. now owns 20,224 shares of the company’s stock valued at $1,499,000 after acquiring an additional 1,566 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Colgate-Palmolive by 4.2% during the first quarter. Alliancebernstein L.P. now owns 1,899,356 shares of the company’s stock worth $139,014,000 after purchasing an additional 77,414 shares during the period. Israel Discount Bank of New York acquired a new stake in shares of Colgate-Palmolive during the first quarter worth $1,349,000. Principal Financial Group Inc. raised its holdings in shares of Colgate-Palmolive by 0.6% during the first quarter. Principal Financial Group Inc. now owns 1,271,008 shares of the company’s stock worth $93,025,000 after purchasing an additional 7,905 shares during the period. Finally, Personal Capital Advisors Corp raised its holdings in shares of Colgate-Palmolive by 5.8% during the second quarter. Personal Capital Advisors Corp now owns 394,028 shares of the company’s stock worth $29,209,000 after purchasing an additional 21,456 shares during the period. 72.96% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on CL. SunTrust Banks raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Societe Generale cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 target price on the stock. in a report on Wednesday, November 29th. They noted that the move was a valuation call. Citigroup dropped their target price on shares of Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Stifel Nicolaus set a $73.00 target price on shares of Colgate-Palmolive and gave the stock a “hold” rating in a report on Sunday, October 29th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $74.00 target price on shares of Colgate-Palmolive in a report on Sunday, October 8th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $76.04.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.73. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. Colgate-Palmolive’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. research analysts expect that Colgate-Palmolive will post 2.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, October 23rd were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. Colgate-Palmolive’s dividend payout ratio is presently 61.78%.
In related news, insider Victoria L. Dolan sold 9,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $73.41, for a total value of $660,690.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen I. Sadove sold 20,780 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the completion of the transaction, the director now owns 36,268 shares of the company’s stock, valued at approximately $2,557,619.36. The disclosure for this sale can be found here. Insiders sold a total of 173,673 shares of company stock valued at $12,629,293 in the last quarter. 1.02% of the stock is currently owned by insiders.
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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